By Chris Glynn
Longtime alternative investment
professional Robert Picard has joined
private wealth manager Hightower.
Picard will work in the newly
created role of managing director, head of alternative investments, for the
investment group, Hightower noted in a media announcement.
Picard will focus on the private
market, where Hightower is leading fund scouting and selection for its
registered investment advisor client base. Hightower has $117.7 billion under
management as well as $141.5 billion under administration.
Picard headed alternative
investing for $15 billion First Republic Private Wealth Management,
which he joined in late 2019. He has also worked for The Carlyle Group, The
Royal Bank of Canada and State Street Corporation for its InfraHedge
hedge fund platform.
Hightower has 10% of its asset
base allocated to the hedge fund industry as well as private debt and equity.
He will report to Stephanie Link, chief investment strategist and head
of the investment solutions group.